AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

Dubai’s main index surged over 1% on Monday amid high expectations for state utility Dubai Electricity and Water Authority’s (DEWA) initial public offering, while sentiment was muted in Egypt after inflation surged.

DEWA, likely to begin trading on Tuesday, is set to raise 22.32 billion dirhams ($6.1 billion) in the Gulf’s biggest IPO since Saudi Aramco’s record deal in 2019.

“The launch could reinvigorate trading volumes as demand for the stock is still high,” said Wael Makarem, senior market strategist – MENA at Exness.

Dubai’s main share index ended up 1.3%, posting its best day in two weeks. Air Arabia drove the gains and ended up nearly 9%.

Outside the Gulf, Egypt’s blue-chip index dropped 1.6% in its sixth straight session of losses.

Qatari index jumps over 2% ahead of QNB results

Egypt’s annual urban consumer price inflation accelerated in March to 10.5%, its highest in nearly three years, as commodity shortages drove price increases in the region.

Financials dragged the index, and only five stocks ended marginally higher.

The Qatari index extended gains to over 3% from the previous session to hit a record high, before paring the gains to end 0.1% higher.

Qatar National Bank rose 3.4% after it posted a 9% rise in quarterly profit.

Saudi Arabia’s benchmark index closed 0.7% up.

Shares of Saudi Basic Industries, Northern Region Cement Company and Saudi Cement Company fell between 2% and 4% as these stocks began trading ex-dividend.

In Abu Dhabi, the index rose 0.7%.

SAUDI ARABIA up 0.7% to 13,483

ABU DHABI rose 0.7% to 10,166

DUBAI added 1.3% to 3,588

QATAR rose 0.1% to 14,494

EGYPT shed 1.6% to 10,729

BAHRAIN down 1.1% to 2,100

OMAN flat at 4,241

KUWAIT flat at 9,133

Comments

Comments are closed.